The announcement that a deal has been reached on a new version of the Concorde Agreement could provide an indication into the possible future of the BMW Sauber F1 team, according to reports.

The FIA revealed yesterday [Saturday] that the new version of the Concorde Agreement had been signed by president Max Mosley, finally bringing an end to the lengthy disputes between the governing body and the Formula One Teams' Association over recent months.

According to a report in the Guardian, BMW has been given until Wednesday to sign up to the new version of the Concorde Agreement, which would provide an indication as to whether or not the German manufacturer is looking to find a buyer for the team.

Should the decision be taken to sign up, then it would look likely that BMW is looking to sell the team instead of simply closing the doors, with former team owner Peter Sauber stating that he would do all he could to help find a buyer.

However Sauber, who sold an 80 per cent stake in the team to BMW back in 2005, said he wasn't looking to retake control himself and that things would need to happen quickly if a deal was to be reached to save the team he founded.

"I will do everything humanely possible," he said. "I can't do wonders and I certainly do not want to be the team boss on the wall again.

"The problem is that time is short and we need to find a solution quickly. I've told all my people that I will use all my contacts, but I cannot guarantee anything. I am an advisor to BMW, but ultimately, only it can decide how to drive it forward."

Since the announcement that BMW is quitting the sport, both Nick Heidfeld and Robert Kubica have expressed a desire to remain on the grid in 2010.

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